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Marketing Mix Test

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  1. Marketing Mix Test This test consists of 10 questions designed to test your understanding of methods of budgeting The links provide you with a choice of answer, along with explanations and solutions. You will need a calculator to complete this test.

  2. Question 1. B2B is a method of? a. Pricing goods and services b. Distributing goods and services c. Designing goods and services

  3. Correct. B2B stands for Business to business and is one of the great success stories of internet trading

  4. Wrong Try again.

  5. Wrong. Try again.

  6. Question 2. A firms price for a new product is set at around 10% below the market norm. Is tjis an example of? A. Loss leader pricing B. Market skimming C. Market penetration pricing

  7. It is unlikely to be loss leader - unless margins are very tight. Try again

  8. Market skimming implies a price above market norms. Try again

  9. Correct. It looks like to firm is trying to grab market share

  10. Question 3. Which of the following is likely to lead to purchases by early adopters? A. Mass marketing campaign B. Technological advantage C. Destroyer pricing strategies

  11. Wrong. Early adopters are not influenced by mass marketing

  12. Correct. Early adopters like to be the first to use new technology

  13. Unlikely. Destroyer pricing implies wide spread use of the product

  14. Question 4. Which of the following forms of promotion is an example of above-the line? A. Sponsorship of a premier league team B. TV and radio advertising C. Direct sales

  15. This is an example of below the line promotion.

  16. This is an example of below the line promotion

  17. Correct These are 2 of the main forms of above the line promotion.

  18. Question 5. Which of the following most closely describes market orientation? A. Producing goods and services based on findings of market research B. Producing goods and services based on company strengths

  19. Wrong. Sounds like product orientation.

  20. Correct

  21. Question 6. Distribution channels are deliberately limited by firms such as Chanel and Calvin Kline, with the objective of? A. Maximising sales quantity B. Improving market presence C. Maintaining brand values

  22. Correct. The firms deliberately limit sales outlets for this specific purpose

  23. No, this strategy would limit sales and market presence Try again

  24. No, this strategy would limit sales and market presence Try again

  25. Question 7. Full Cost pricing is used to? A. Improve understanding of costs of manufacture. B. Improve market orientation 1. Both 2. A only

  26. Wrong. This is a product orientated pricing strategy

  27. Correct.

  28. Question 8. Which of the following are types of product indicated by the Boston Matrix? A. Falling stars B. Problem Children C. Cash Cows 1. A and B 2. B and C 3. All of the above.

  29. The stars are normally rising!.

  30. Correct. The other product types rising stars and dogs

  31. The stars are normally rising!..

  32. Question 9. Which of the below is an example of loss leader pricing? A. 2 for 1 offer on Iceland chips B. A prize for every reader! C. Free computer programs on mag. cover CD

  33. This is an example of below the line promotion.

  34. Another example of promotion

  35. Correct It is hoped or expected that the use of help lines or later upgrades of the product will create profitable sales

  36. Question 10. Which of the examples below were launched with a market penetration pricing strategy? A. Pentium 1GHZ processor B. Virgin Cola C. The Sunday Independent 1. A and C 2. All of the above 3. B only

  37. Definitely a case of market skimming and customer value pricing!

  38. Definitely a case of market skimming for a) and customer value pricing for c)!

  39. Correct. Virgin Colas launch was backed by huge amounts of promotion and a price of around 10% below the market leaders.

  40. You have now completed the test. For further more detailed revision please use the case studies on the ALoA web site. www.aloa.co.uk